I heard someone say, “The only time I ever need a partner is when I am dancing.” Just to put it into context, this was quoted by an entrepreneur who got burned on several business partnerships that cost him a lot of grief, stress, and most of his money. He swore that he would never go into business with someone else EVER again.

On the flip side, how about this quote? “Individually, we are one drop, but together, we are an ocean.” Or this? “In partnership lies the power to achieve what we cannot accomplish alone.”

So, from these quotes alone, a partnership’s success or failure depends on who you partner with. If you partner with the wrong person, it can turn into an absolute nightmare, but if you partner with the right person, it can lead to the most productive collaboration by leveraging the power of two or more to achieve success.

So then, would you say it’s all about relationships? I am glad you said yes to that, because that’s exactly what we are talking about through our series called “The Relationship Factor,” where I’ve been diving into the importance of relationships in our business. Here’s a quick review of what we’ve talked about so far:

• How important is fostering good relationships in business? Read More
• How important is fostering good relationships in life? Read More

If you are thinking about starting a new business, it’s essential that you find the right person to partner with. Don’t get me wrong; there’s nothing wrong with solopreneurs. I know brilliant and capable individuals who did it all on their own…but for me, I would rather not do it alone, and here’s why…we all have our strengths and our weaknesses, and don’t you think if we can recognize each other’s unique abilities and talents, we can leverage our combined skills to achieve greater success? Also, isn’t it just better and funner to do it together? Isn’t it better to celebrate our victories together? Isn’t it just better to share the burdens together? Isn’t it just better to divert the workload together? Isn’t it just better to dream together?

But at the same time, we need practical guidance to find the right person. Here are some that I think are essential:

• Identifying Shared Values: When looking for a partner, it’s crucial to identify shared values. For instance, in a business partnership, if one person values integrity and the other prioritizes profit above all else, conflicts may arise. Conversely, if both partners prioritize honesty and ethical conduct, they are more likely to build a strong, trusting relationship.
• Assessing Complementary Skills: Finding a partner with complementary skills can enhance the overall effectiveness of the partnership. For example, in a startup venture, one partner might excel at product development and innovation while the other is skilled in marketing and sales. Together, they can cover more ground and address a broader range of challenges than either could alone.
• Testing Compatibility through Small Projects: Before committing to a long-term partnership, it can be beneficial to test compatibility through smaller projects or collaborations. This allows partners to gauge each other’s work ethic, communication style, and problem-solving approach in a low-risk environment. It may be worth exploring further if the partnership proves successful on a smaller scale.
• Seeking Mutual Respect and Support: A good partner is someone who respects and supports you, both professionally and personally. For example, in a business partnership, if one partner consistently undermines the other’s ideas or fails to offer support during difficult times, it can erode trust and damage the relationship. Conversely, partners who celebrate each other’s successes and provide encouragement during setbacks are more likely to thrive together.
• Open and Honest Communication: Effective communication is essential for any partnership to succeed. Partners should feel comfortable expressing their thoughts, concerns, and ideas openly and honestly. This transparency fosters trust and allows partners to address conflicts or misunderstandings before they escalate.
• Flexibility and Adaptability: The ability to adapt to changing circumstances is crucial in any partnership. Partners should be willing to compromise, pivot when necessary, and adjust their strategies as circumstances evolve. This flexibility enables partners to navigate challenges and seize opportunities as they arise.

By considering these practical examples and principles, individuals can increase their chances of finding the right partner and building successful partnerships. How cool is that? To prove my point, numerous successful business partnerships have significantly impacted various industries.

• Susan Wojcicki and Anne Wojcicki (23andMe): Susan Wojcicki, CEO of YouTube, and her sister Anne Wojcicki co-founded 23andMe, a personal genomics and biotechnology company. Susan provided her expertise in technology and business, while Anne, a biologist, contributed her knowledge of genetics. Together, they built 23andMe into a leading company in the field of genetic testing and personalized medicine.
• Jen Rubio and Steph Korey (Away): Jen Rubio and Steph Korey co-founded Away, a direct-to-consumer luggage company, in 2015. Rubio, with her background in branding and marketing, teamed up with Korey, who had experience in operations and supply chain management. Their partnership led to the creation of stylish, high-quality luggage designed for modern travelers, and Away quickly became a disruptor in the travel industry.
• Arianna Huffington and Kenneth Lerer (The Huffington Post): Arianna Huffington and Kenneth Lerer co-founded The Huffington Post in 2005, revolutionizing the landscape of online news and media. Huffington’s editorial vision and Lerer’s background in venture capital and media investment were instrumental in the success of the publication, which eventually became one of the most influential news websites in the world.
• Warren Buffett and Charlie Munger (Berkshire Hathaway): Warren Buffett and Charlie Munger have been business partners for decades at Berkshire Hathaway, a multinational conglomerate holding company. Buffett is known for his value investing strategy and capital allocation decisions, while Munger provides insightful perspectives on business and investing. Together, they have built Berkshire Hathaway into one of history’s most successful investment vehicles.
• Ben Cohen and Jerry Greenfield (Ben & Jerry’s): Ben Cohen and Jerry Greenfield founded Ben & Jerry’s Homemade Ice Cream in 1978, starting with a small scoop shop in Vermont. Cohen focused on business, while Greenfield oversaw product development and marketing. Their socially conscious approach to business and innovative flavors helped Ben & Jerry’s become a beloved global brand.

These examples demonstrate how successful partnerships combine complementary skills, shared values, and mutual respect to achieve amazing success in business. So, let me say it again… it’s all about relationships. I am more convinced than ever. Relationships are a testament to the endless potential that awaits when we dare to join hands and journey together. It’s a reminder that behind every monumental achievement, there’s a partnership—a duo whose unwavering commitment and unwavering belief in each other defy the odds and redefine what’s possible.

Let’s gooooooo!!!

Related posts:

The Relationship Factor You Have 3 Wishes Quotes that Changed Everything My Lame Unfinished Journal Collection